NIFTY Intraday Trade Setup For 04 Jan 2023
Bullish-Above 21585
Invalid-Below 21535
T- 21712 21855
Bearish-Below 21500
Invalid-Above 21550
T- 21390 21275
NIFTY has closed on a bearish note with 0.69% cut today. Sell triggered as per trade setup below 21550 and gave a small move till 21500, our targets were yet to be achieved. Bearish move will resume below 21500 tomorrow and best case will be flat opening. Next important support will be 21390 and a reversal may take place from there. Extreme case it may even test 21275 if 21390 will not be held. 21585 is the level for a bullish move.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21585 then we will long for the target of 21712 and 21855.
For selling we need a 15 Min candle close below 21500. T- 21390 and 21275.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
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I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Bullish-Above 21585
Invalid-Below 21535
T- 21712 21855
Bearish-Below 21500
Invalid-Above 21550
T- 21390 21275
NIFTY has closed on a bearish note with 0.69% cut today. Sell triggered as per trade setup below 21550 and gave a small move till 21500, our targets were yet to be achieved. Bearish move will resume below 21500 tomorrow and best case will be flat opening. Next important support will be 21390 and a reversal may take place from there. Extreme case it may even test 21275 if 21390 will not be held. 21585 is the level for a bullish move.
Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 21585 then we will long for the target of 21712 and 21855.
For selling we need a 15 Min candle close below 21500. T- 21390 and 21275.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout.
==========
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
